Lindex reports strong result increase and continued sales growth

Lindex’s operating result* for the third quarter amounted to 307 MSEK, which is an increase of 30.1 per cent compared with the same period previous year (236 MSEK 2022). The operating result* for the first nine months of the year amounted to 781 MSEK, which is an increase of 10.2 per cent compared with previous year (709 MSEK 2022).

‘It has been a warm start to the autumn, but we have had a good collection transition, with an inspiring and well-balanced assortment, which was appreciated by our customers and which gave us a successful season start. We continue our sales growth in both our physical stores and digital channels and together with strengthened margin and good cost control, we deliver a strongly improved result for both the third quarter as well as the first nine months. Our positive development and strong growth are a result of our goal-oriented work and all employee’s fantastic engagement and great customer focus’, says CEO Susanne Ehnbåge.

Lindex’s sales during the third quarter increased by 4.9 per cent in local currencies and with 7.5 per cent in SEK. The sales during the first nine months of the year increased by 2.6 per cent in local currencies and with 3.7 per cent in SEK. The fashion company continued its growth in physical stores during the quarter with an increase of 3.2 per cent compared with the same period previous year. Lindex’s digital sales increased by 13.8 per cent during the quarter and the digital share accounted for 19.4 per cent of Lindex’s total sales (17.8 per cent 2022).

‘We increase sales for all our business areas, where womenswear increases the most with a growth of 8.9 per cent during the quarter. It is also pleasing that we continue to grow with both new and active customers and that we are increasing our average purchase despite times of reduced purchasing power. It is a great receipt of how we are further strengthening the Lindex brand. Furthermore, we are exploring new ways of doing business and piloting new sales channels and have, during the quarter, launched via partners in new markets and marketplaces. It is with enthusiasm that I look forward to our continued journey as a global, brand-led and sustainable fashion company where our investments and digital development are central’, says Susanne Ehnbåge.

*Lindex's operating result is reported including IFRS16 leasing agreements.